Central Pacific Bank Trust Division Sells 83 Shares of AutoZone, Inc. (NYSE:AZO)

Central Pacific Bank Trust Division trimmed its stake in AutoZone, Inc. (NYSE:AZO) by 22.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290 shares of the company’s stock after selling 83 shares during the period. Central Pacific Bank Trust Division’s holdings in AutoZone were worth $914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in shares of AutoZone in the first quarter worth approximately $32,000. Riverview Trust Co purchased a new stake in shares of AutoZone during the first quarter valued at $41,000. Meeder Asset Management Inc. boosted its stake in shares of AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of AutoZone in the second quarter worth about $50,000. Finally, ORG Partners LLC purchased a new position in AutoZone in the 2nd quarter worth about $50,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,066.92 on Friday. The business’s 50-day moving average is $3,134.02 and its 200 day moving average is $3,012.86. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The firm has a market capitalization of $52.39 billion, a P/E ratio of 21.21, a P/E/G ratio of 1.43 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the previous year, the business earned $46.46 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts expect that AutoZone, Inc. will post 151.08 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AZO shares. Evercore ISI boosted their price objective on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup dropped their price objective on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Guggenheim raised their price objective on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a report on Tuesday. Finally, Truist Financial cut their price target on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $3,169.38.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.